Federal tax revenues continue to run at a record pace in fiscal 2014, as the federal government’s total receipts for the fiscal year closed April at $1,735,030,000,000, according to the Monthly Treasury Statement.
Despite this record revenue, the federal government still ran a deficit of $306.411 billion in the first seven months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.
Incredible. The federal government will realize the most revenue it has ever taken in, and it’s still not enough. Just like John D. Rockefeller, the feds are always looking for “just one more dollar.”
In an interview Mr. Rockefeller was asked how many more dollars until you’re satisfied. He then answered, “Just one more dollar.”
It has been apparent for the last 30 years that the budgetary problems of the U.S. government don’t stem from the government not having enough money to spend. The problem is that the federal government can’t stop spending like a drunken sailor on shore leave.